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Commodities & Metals

24/7 Wall St. TV: Not All’s Well At Alcoa (NYSE:AA)

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By Douglas A. McIntyre Updated Published
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Aluminum giant and Dow Jones Industrial Average component Alcoa Inc. (NYSE: AA) has just kicked off earnings season for the Q3-2009 period.  Shares were halted ahead of the earnings report.  The company posted a surprise positive earnings of $0.04 EPS outside of items (and listed as $0.07 EPS from operations) and $4.6 billion in revenue.  Thomson Reuters was expecting a drop of 125% on earnings to -$0.09 EPS and $4.55 billion in revenue.   Revenues are down from $7 billion a year ago, but this is a sequential gain from $4.2 billion seen in Q2-2009.

The company seems to have been in a restructuring and repositioning for an eternity, and the company has further updated its progress on this front.  The company said that financial and operational measures taken in the first half of the 2009 are having a strong positive impact on cash and profitability, and further noted that it is in excellent shape to benefit when the market recovers.  Further noted was that the company is surpassing all targets in the cash sustainability program.

[youtube=http://www.youtube.com/watch?v=bJzlO1C8vfA&w=560&h=340&fmt=18]

Cash generated from operations was $184 million in the quarter and it ended with some $1.1 billion in cash on the books.

Again, shares are halted, but the stock closed up 2.2% at $14.20 on the day.  Alcoa’s 52-week trading range is $4.97 to $18.94, but this was briefly a $40 stock back in early summer of 2008.

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Executive Producer: Philip MacDonald

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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